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Accounting Glossary

Accounting Terms and Definitions

Learn core accounting terms and definitions to help your small business get to the next level. Check out our accounting glossary, and find related articles and resources.

Accounting Glossary

Learn about the accounting terms that all small business owner needs

A

Accountant

Accounting

Accounting cycle

Accounting Period

Accounts payable

Accounts receivable

Accrual accounting

Accrual Basis Accounting

Accruals

Accrued Expenses

Acrual Method Accounting

Amortization

Assets

Audit

B

Bad Debt Expense

Bad debts

Balance sheet

Balloon payment

Bookkeeping

Bootstrapping

C

Capital

Capital cost

Cash

Cash accounting

Cash Basis Accounting

Cash Equivalents

Cash flow

Cash flow statement

Cash method accounting

Cash on Hand

CGT - Capital Gain Tax

Chart of accounts

Cost of goods sold

Credit

Credit entries

Crowdfunding

Current assets

Current liabilities

D

Debit

Debit entries

Debt

Depreciation

Dividends

Double-entry bookkeeping

E

Encumbered asset

EOFY

Equity

Expenses

F

FBT – Fringe Benefit Tax

Financial statements

Financial year

Fiscal Year

Fixed assets

Fixed Expense

Forecasting

G

General ledger

Goodwill

Gross Profit

Gross profit margin

H
I

Income

Income statement

Income Tax (Business)

Insolvency

Intangible assets

Inventory

Invoice

J

Journal

K
L

Liabilities

Liability Account

Liquidate

Liquidity

Long-term liabilities

M

Margin

Marketable Securities

N

Net

Net income

Net profit

Non-current assets

Non-current liabilities

Non-operating assets

O

Operating assets

Operational Expense

Overheads

Owner’s equity

P

Payroll

Payslip

Petty cash

Prepaid Expenses

Profit

Profit and loss

Profit and loss statement

Q
R

Receipt

Retained earnings

Revenue

ROI

S

Statement of cash flows

Stock

Stocktaking

T

Tangible assets

Trial balance

U
V

Variable Expense

W

Working capital

Write-Off

X
Y
Z
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